Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp has reduced its stake in Intuitive Surgical by 14.4%, now owning approximately 269,461 shares valued at $133.46 million after selling 45,220 shares in the first quarter.
• Insider transactions during the last ninety days included significant sales by executives, with a total of 15,903 shares sold, highlighting decreasing insider ownership along with 0.70% currently held by corporate insiders.
• Intuitive Surgical reported a 21.4% year-over-year increase in revenue, achieving $2.44 billion during the last quarter, and exceeded EPS expectations by $0.26, indicating strong financial performance amid market fluctuations.

Mitsubishi UFJ Trust & Banking Corp lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 14.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 269,461 shares of the medical equipment provider's stock after selling 45,220 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Intuitive Surgical worth $133,456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ISRG. Chilton Capital Management LLC lifted its position in Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Parvin Asset Management LLC bought a new stake in Intuitive Surgical during the fourth quarter worth approximately $26,000. Global Financial Private Client LLC grew its stake in shares of Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 38 shares during the last quarter. Elite Financial Inc. bought a new position in shares of Intuitive Surgical during the first quarter valued at approximately $26,000. Finally, Hurley Capital LLC bought a new position in Intuitive Surgical in the fourth quarter worth approximately $28,000. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Trading Up 0.0%

Shares of Intuitive Surgical stock traded up $0.24 on Monday, hitting $483.36. The stock had a trading volume of 2,493,317 shares, compared to its average volume of 2,146,593. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The stock has a market cap of $173.27 billion, a price-to-earnings ratio of 67.41, a P/E/G ratio of 5.06 and a beta of 1.59. The company's 50 day moving average price is $524.01 and its 200 day moving average price is $532.67.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.26. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The firm's quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. Analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ISRG has been the topic of several recent research reports. Barclays dropped their target price on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft lowered Intuitive Surgical from a "hold" rating to a "sell" rating and dropped their target price for the stock from $515.00 to $440.00 in a report on Monday, June 9th. UBS Group raised their target price on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Citigroup reiterated a "buy" rating and issued a $650.00 price objective (up from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Finally, Piper Sandler restated an "overweight" rating and set a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares of the company's stock, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the sale, the senior vice president owned 907 shares of the company's stock, valued at approximately $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,903 shares of company stock worth $7,932,778. 0.70% of the stock is owned by insiders.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.